American food group Kraft Heinz has pledged to invest 200 million dollars (185 million euro) into sustainability efforts, greatly expanding its corporate social responsibility program.
One billion free meals
Kraft Heinz’ decision is a remarkable move, following its failed Unilever acquisition attempt: at that time, a section of Unilever’s shareholders criticized the American company’s lackluster sustainability efforts. However, Kraft Heinz says its current investment is not related to the failed take-over attempt. CEO Bernardo Hees says that corporate social responsibility has always been a part of company policy and that these plans were already on the table.
The program’s expansion should result in Kraft Heinz giving away more than one billion free meals by 2021 and reducing its gas emissions by 15 %. The company also intends to treat animals better, but insists the new policies should have no negative effect on Kraft Heinz’ profit forecast and not lead to higher prices for consumers, Hees said.